Finance: An Esch startup may soon start trading in the world’s biggest virtual currency.
A three month old Luxembourg bitcoin startup has announced initial funding and that it is already in the process of obtaining a license to trade in the virtual currency.
CoinPlus, based at the Technoport in Esch-Belval, said on Wednesday that its first round of funding totalled €172,500. In a press announcement CoinPlus also said it “will meet the regulator at the end of September”.
Earlier this year Luxembourg’s financial regulator, the CSSF, said that virtual currencies were a form of money, and that anyone seeking to provide bitcoin payment services or trading would require a license, as all financial activity in the Grand Duchy is regulated (PDF).
But Christian Bodt, CEO of CoinPlus, stated: “The advantage of the unit of account bitcoin is that it can store value without any risk linked to the action of others, such as the euro for example that requires confidence in both the European financial and political system and the European Central Bank.”